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HISTORICAL DETAILS
% Change
1 Wk -2.35
1 Month -2.16%
3 Months -1.93%
6 Months 9.62%
1 Year 11.81%
52 WEEK
High 1.4940
Low 1.2523
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.45
Q3 2011 1.43
Q4 2011 1.41
Q1 2012 1.42
DAILY DETAIL
The euro saw significant selling pressure on Friday night as the shocking non-farm payrolls figure triggered a sharp ‘risk off’ slide. As if this wasn’t enough for markets to worry about, European contagion fears have now spread to Italy, with stocks getting hit very hard on fears that the country’s banks need to raise billions of dollars in fresh capital, despite assurances from Italian Reserve Bank chief Mario Draghi. These fears worsened over the weekend, as European Council President Herman Van Rompuy convened an emergency meeting of top EU officials to discuss Greek and Italian issues. EUR/USD opened the Asian session sharply weaker, down about 50 pips from Friday’s close of 1.4258. It’s currently trading around the 1.4214 level, off an earlier low of 1.4186. Tonight, traders will have one eye on French industrial production due at 4.45pm (Melbourne time); the market is expecting a rise of 0.5% following last month’s fall of 0.3%. Outside of this, the big driver will be sentiment and how markets react to the emergency EU meeting that has been convened. Ben Potter, Australia
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